Table 16 Alternative database with extended time coverage of the COVID-19 period.

From: The COVID-19 pandemics and import demand elasticities: evidence from China’s customs data

All trade modes

UN Comtrade (country-level), 2019m1-2022m12

Chinese Customs (provincial-level), 2019m1-2021m3

Monthly trade data

(1)

(2)

(3)

(4)

 

Y= Δ ln v

Y= Δ ln q

Y= Δ ln v

Y= Δ ln q

Δ ln RER_CNY

2.044*** (0.251)

2.236*** (0.285)

1.758*** (0.361)

1.854*** (0.377)

Δ ln RER_CNY × Policy

−1.806*** (0.467)

−2.432*** (0.554)

−3.296*** (0.583)

−3.399*** (0.688)

Δ ln RER_Comp

0.0332*** (0.00689)

0.0328*** (0.00756)

0.115*** (0.011)

0.100*** (0.011)

Δ ln RER_Comp × Policy

−0.0296** (0.0123)

−0.0308** (0.0138)

−0.0251*** (0.007)

−0.0215*** (0.007)

Controls

Yes

Yes

Yes

Yes

Province-time FE

Yes

Yes

Yes

Yes

Province-product-country FE

Yes

Yes

Yes

Yes

Time FE

Yes

Yes

Yes

Yes

N

944592

871979

2352568

2248764

R2

0.044

0.040

0.052

0.049

Prob > F-statistic

0.000

0.000

0.000

0.000

  1. Note: In columns (1) and (2), we employ the UN Comtrade on China’s imports from January 2019 to December 2022, which contain information regarding different Asian countries’ exports to different China. An increase in ΔlnRER_Comp implies a real appreciation of competitors’ currencies, and an increase in ΔlnRER_CNY implies a real depreciation of RMB against that one Asian trading partner’s currency (bilateral). A larger HHI implies a higher degree of market concentration for Asian economies in exporting to China. ** and *** indicate variables significant at 5% and 1% level respectively. Robust standard errors are reported in parenthesis.